Precision Income Before Tax vs Ebitda Analysis
PDS Stock | USD 71.90 0.96 1.35% |
Precision Drilling financial indicator trend analysis is much more than just breaking down Precision Drilling prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Precision Drilling is a good investment. Please check the relationship between Precision Drilling Income Before Tax and its Ebitda accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Precision Drilling. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. For more information on how to buy Precision Stock please use our How to Invest in Precision Drilling guide.
Income Before Tax vs Ebitda
Income Before Tax vs Ebitda Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Precision Drilling Income Before Tax account and Ebitda. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between Precision Drilling's Income Before Tax and Ebitda is 0.55. Overlapping area represents the amount of variation of Income Before Tax that can explain the historical movement of Ebitda in the same time period over historical financial statements of Precision Drilling, assuming nothing else is changed. The correlation between historical values of Precision Drilling's Income Before Tax and Ebitda is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Income Before Tax of Precision Drilling are associated (or correlated) with its Ebitda. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Ebitda has no effect on the direction of Income Before Tax i.e., Precision Drilling's Income Before Tax and Ebitda go up and down completely randomly.
Correlation Coefficient | 0.55 |
Relationship Direction | Positive |
Relationship Strength | Weak |
Income Before Tax
Income Before Tax which can also be referred as pre-tax income is reported on Precision Drilling income statement and is an important metric when analyzing Precision Drilling profitability. Accounting techniques because taxes can be complex, and not perfectly consistent from one company to company, an analyst may use pre-tax income as a more stable measure of profitability.Ebitda
Most indicators from Precision Drilling's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Precision Drilling current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Precision Drilling. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. For more information on how to buy Precision Stock please use our How to Invest in Precision Drilling guide.At this time, Precision Drilling's Tax Provision is comparatively stable compared to the past year. Sales General And Administrative To Revenue is likely to gain to 0.06 in 2024, whereas Selling General Administrative is likely to drop slightly above 116.5 M in 2024.
2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 91.4M | 87.8M | 84.8M | 118.0M | Depreciation And Amortization | 282.3M | 279.0M | 307.1M | 234.3M |
Precision Drilling fundamental ratios Correlations
Click cells to compare fundamentals
Precision Drilling Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Precision Drilling fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 3.3B | 2.9B | 2.7B | 2.9B | 3.3B | 3.3B | |
Short Long Term Debt Total | 1.5B | 1.3B | 1.2B | 1.2B | 992.2M | 1.0B | |
Other Current Liab | 4.1M | 3.7M | 839K | 3.0M | 191.0M | 200.6M | |
Total Current Liabilities | 216.1M | 166.8M | 238.1M | 410.0M | 365.6M | 304.6M | |
Total Stockholder Equity | 1.5B | 1.4B | 1.2B | 1.2B | 1.6B | 1.7B | |
Property Plant And Equipment Net | 2.8B | 2.5B | 2.3B | 2.4B | 2.4B | 2.4B | |
Net Debt | 1.4B | 1.2B | 1.1B | 1.1B | 938.0M | 901.5M | |
Retained Earnings | (969.5M) | (1.1B) | (1.3B) | (1.3B) | (1.0B) | (961.4M) | |
Accounts Payable | 199.5M | 151.0M | 224.1M | 392.1M | 151.3M | 231.9M | |
Cash | 74.7M | 108.8M | 40.6M | 21.6M | 54.2M | 51.5M | |
Non Current Assets Total | 2.9B | 2.6B | 2.3B | 2.4B | 2.8B | 2.8B | |
Non Currrent Assets Other | (2.8B) | (2.6B) | 23.9M | 1.6M | 10.7M | 11.2M | |
Cash And Short Term Investments | 74.7M | 108.8M | 40.6M | 21.6M | 54.2M | 51.5M | |
Net Receivables | 311.3M | 207.2M | 255.7M | 413.9M | 421.4M | 415.5M | |
Common Stock Shares Outstanding | 14.9M | 13.7M | 13.3M | 13.5M | 15.3M | 14.4M | |
Liabilities And Stockholders Equity | 3.3B | 2.9B | 2.7B | 2.9B | 3.3B | 3.3B | |
Non Current Liabilities Total | 1.5B | 1.3B | 1.2B | 1.2B | 1.4B | 1.3B | |
Inventory | 31.7M | 26.3M | 23.4M | 35.2M | 35.3M | 29.1M | |
Other Stockholder Equity | 66.3M | 72.9M | 76.3M | 72.6M | 75.1M | 71.3M | |
Total Liab | 1.7B | 1.5B | 1.4B | 1.6B | 1.7B | 1.6B | |
Total Current Assets | 417.8M | 342.3M | 319.8M | 470.7M | 510.9M | 577.2M | |
Short Term Debt | 12.4M | 12.2M | 13.2M | 15.0M | 20.2M | 19.2M | |
Intangible Assets | 31.7M | 27.7M | 23.9M | 19.6M | 17.3M | 16.4M | |
Good Will | 205.2M | 35.4M | 31.7M | 27.7M | 24.9M | 23.7M | |
Accumulated Other Comprehensive Income | 134.3M | 137.6M | 134.8M | 159.7M | 147.5M | 154.8M | |
Other Current Assets | 67.4M | 76.5M | 76.1M | 91.2M | 86.9M | 43.7M | |
Other Liab | 44.2M | 40.3M | 45.5M | 96.6M | 111.1M | 116.7M | |
Net Tangible Assets | 1.5B | 1.4B | 1.2B | 1.2B | 1.4B | 1.5B | |
Other Assets | 7.0M | 3.2M | 867K | 455K | 409.5K | 389.0K | |
Long Term Debt | 1.4B | 1.2B | 1.1B | 1.1B | 914.8M | 1.1B | |
Deferred Long Term Liab | 2.3M | 2.1M | 2.1M | 1.4M | 1.6M | 1.1M | |
Common Stock | 2.3B | 2.3B | 2.3B | 2.3B | 2.4B | 2.0B | |
Property Plant Equipment | 2.8B | 2.5B | 2.3B | 2.4B | 2.7B | 2.6B | |
Property Plant And Equipment Gross | 6.7B | 2.5B | 2.3B | 2.4B | 7.0B | 4.7B | |
Long Term Debt Total | 1.5B | 1.3B | 1.2B | 1.1B | 1.0B | 1.3B | |
Capital Surpluse | 66.3M | 72.9M | 76.3M | 72.6M | 83.4M | 63.1M |
Pair Trading with Precision Drilling
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Precision Drilling position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Precision Drilling will appreciate offsetting losses from the drop in the long position's value.Moving together with Precision Stock
0.85 | DO | Diamond Offshore Drilling | PairCorr |
0.76 | NE | Noble plc | PairCorr |
Moving against Precision Stock
0.51 | BORR | Borr Drilling Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Precision Drilling could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Precision Drilling when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Precision Drilling - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Precision Drilling to buy it.
The correlation of Precision Drilling is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Precision Drilling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Precision Drilling moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Precision Drilling can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Precision Drilling. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. For more information on how to buy Precision Stock please use our How to Invest in Precision Drilling guide.Note that the Precision Drilling information on this page should be used as a complementary analysis to other Precision Drilling's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Complementary Tools for Precision Stock analysis
When running Precision Drilling's price analysis, check to measure Precision Drilling's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Precision Drilling is operating at the current time. Most of Precision Drilling's value examination focuses on studying past and present price action to predict the probability of Precision Drilling's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Precision Drilling's price. Additionally, you may evaluate how the addition of Precision Drilling to your portfolios can decrease your overall portfolio volatility.
Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
Transaction History View history of all your transactions and understand their impact on performance | |
Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
Commodity Directory Find actively traded commodities issued by global exchanges |
Is Precision Drilling's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Precision Drilling. If investors know Precision will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Precision Drilling listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.55) | Earnings Share 12.13 | Revenue Per Share 136.766 | Quarterly Revenue Growth (0.06) | Return On Assets 0.0524 |
The market value of Precision Drilling is measured differently than its book value, which is the value of Precision that is recorded on the company's balance sheet. Investors also form their own opinion of Precision Drilling's value that differs from its market value or its book value, called intrinsic value, which is Precision Drilling's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Precision Drilling's market value can be influenced by many factors that don't directly affect Precision Drilling's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Precision Drilling's value and its price as these two are different measures arrived at by different means. Investors typically determine if Precision Drilling is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Precision Drilling's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.